| Code | DS/UK/70 |
| Corporate Name | London Discount Market Association |
| Dates | 1919 - 1996 |
| OtherFormsOfName | LDMA |
| Activity | The London Discount Market Association (LDMA) was formed in 1919 to represent the interests of the discount houses. These institutions played an important part in the Bank of England's execution of monetary policy, buying Treasury Bills from the Bank in order to absorb excess liquidity in the system or selling them if money was short.
A revision of these procedures in 1996, in order to conform with European standards for such operations, resulted in the LDMA being disbanded. Although the LDMA was completely independent of the Bank of England, it was felt that the Bank's Archive might nonetheless be the most appropriate home for the records. |
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